T
he Dallas-Fort Worth housing market showed significant year-over-year improvement in November, with a 15.6% increase in sales - the largest such jump since mid-2021. However, experts caution that prices remain high and mortgage rates continue to fluctuate due to concerns about future inflation. Homes are taking longer to sell, and while conditions favor buyers, there's still concern about long-term supply.

    According to ReMax's National Housing report, nearly 6,800 homes were sold in D-FW last month, with a median price of $395,000 - up just over 1% from November 2023. Active listings remain high, with nearly 29,000 properties available, and inventory levels are higher than usual.

    Real estate agent Todd Luong notes that the market is no longer as affordable as it once was, while professor Shriram Villupuram attributes the recent sales surge to lower interest rates and a "reasonable sweet spot" for buyers. However, both experts express concerns about high home prices, recurring homeownership costs, and mortgage rates.

    Looking ahead to 2025, mortgage rates are expected to remain a major concern, driven by inflation worries on the bond market. Villupuram predicts that once policy clarity is established under President-elect Trump's administration, prices will stabilize, making next year's summer selling season better than this year's. Luong agrees that mortgage rates will be the key factor in determining the market's direction, and warns that high home prices and other costs are hurting first-time buyers.